Aurore LALUCQ

Policy topics Aurore LALUCQ is active on

What Aurore LALUCQ has said (80)

• 2026-07-15 “(14:30:08 - 14:31:45): Okay, dear colleagues. I am pleased to welcome mister Simon Harris, ECOFIN President and Minister of Finance of Ireland, who is joining us today for an exchange of views on the priorities of the Irish President in the ECOFIN. Alou Alan took over the rotating presidency of the Council of the EU on July 20 26 the 1st. Competitiveness, resilience and fiscal sustainability as well as agility in responding to international economic developments, which is really needed, have been highlighted as your guiding principle in steering a coffin agenda. In the financial sector, the saving and investment union lies at the heart of our common priorities since it is about creating a true single market for capital and financial services. We understand that priority will be given to achieving the targets on the SIU and the digital euro, to mobilize resources for long term economic growth and competitiveness. So we look forward to this exchange of you. I will give you the floor for 10 minutes or less. You can be 7. And then there will be a q and a session with a member of the, Econ Committee. 1 minute more than half of the questions, 3 minute for the interim, but I think we have the time. We have 1 hour. So welcome, dear Simon. The floor is yours.”
  Digital euro
• 2026-07-15 “(15:15:50 - 15:27:19): Thank you. Thank you very much, president. We're delighted that you've been able to come and see us. We know that we work very well together. We've worked on a great many files together, securitization, some of the files that were adopted today, others are in the trialogue process. In your presidency, you have two pillars to your mandate, the digital euro and MISP. And there too, I can see that you're very ambitious, and we're very ambitious too. This parliament has a large appetite for the Capital Markets Union. We've always been more ambitious than the member states. Obviously, there are nuanced differences between them, which is comprehensible. But we're very pleased to feel that the council is keen to, and if you can reach an agreement quickly, then I think we'll erect a statue of you because it's difficult to get the member states to converge on a subject that they've been discussing for so long. Now your time frame is obviously ambitious, but long time frames don't always mean that a solution is found. Now we have an opportunity to find a solution, have a savings and investment union. I think you will have understood that this committee is strongly in favor of moving forward rapidly on this important file. So once again, thank you very much. Well, naturally, colleagues, I'm going to start this in French. I am delighted to welcome at this last meeting before the summer, the president of the Single Resolution Board, Mr. Dominique Labouroux. It's the second time that he's been to this committee this year and he presented the board's annual report 2025 recently. We're also delighted to have him with us because of the communication on banking competitiveness. It would be interesting to have his views on that too, if that's possible. As usual, I'll give Mr. Labouroux the floor for an introductory statement, and after that, we will have a question and answer session. Go ahead, please. Thank you very much, madam chair.”
  Overall simplification of regulation in the EU
• 2026-07-15 “So dear colleagues, we will start with the adoption of the agenda. And if there is no objection, the agenda is adopted. Interpretation will be available today in 21 languages, and we move to this public hearing. So, let me welcome Miss Mona Teko, chair of the Authority for Anti-Money Laundering and Countering the Financing of Terrorism, AMLA, for our public hearing today. Our last exchange with AMLA took place in December last year, as we marked the 1-year anniversary of AMLA becoming operational. I would like to stress one more time the importance of its role in strengthening the European response against money laundering and terrorist financing. I was very pleased to attend the very first AMLA conference last month in Frankfurt. It was a success, and congratulations. We addressed a wide range of issues shaping today's fight against financial crime, from policy and supervision to new threats and operational practices. AMLA has submitted its first annual report to the European Parliament on July 1 in accordance with the AMLA regulation, which has been distributed to the members of both committees. I am therefore pleased to invite Ms. Teko to make a public presentation of this report on the execution of the tasks conferred on AMLA and provide information on the planned evolution. The presentation will allow members to take a closer look at AMLA's deliveries and priorities on the supervisory related tasks, its progress in providing the level 2 and level 3 measures, and finally, its role in the enforcement of the new AML regulatory framework. And I will now give the floor to the vice chair of the LIBE committee.”
  Anti-money laundering regulation
• 2026-07-15 “Thank you. Thank you so much, dear Bruna. Thank you to the vice chair of the Libbey committee. As you as you witnessed, there were a lot of question. There were a lot of question from the Econ and Libbey committee because AMLA is very close to to our heart, and your mission is very important. And thank you also to the AMLA staff. I mean, I think you made a quite a job in in 1 year, and, we have a lot of expectation and high expectation coming from you, a lot of pressure on your shoulders. I know. Thank you so much for for today, exchange of views. Thank you so much, and thank you to all of you, to the vice chair of the LIBE committee and to the member of the LIBE committee. Thank you.”
  Discharge of EU institutions and agencies
• 2026-07-02 “(11:43:55 - 11:44:09): Thank you to all of you. And the deadline moment for the MiFID regulation is set on July 16 at 11 for the MiFID directive and SFR on the same day at 3PM. Thank you so much for this discussion.”
  Markets in Financial Instruments Directive (MiFID)
• 2026-07-02 “(10:19:03 - 10:20:44): Thank you. I'll put a question to you now, in French. Is it working now? Is the interpretation coming through? Is the interpretation working? English interpretation on channel 2, is that coming through? Just a 1st question. We have just been through a heat wave, and that's a reminder of how brutal climate change can be, particularly in Europe. And over the course of the last term, there was a lot of discussion about stranded assets and the fact that climate risk might become a systemic risk. As a supervisor, what are you seeing around this? Are these risks materializing, and are we better equipped to estimate their costs, particularly for banks? Then the matter of artificial intelligence. What tangible steps are being taken to follow-up on the deployment of AI within banks? Are there significant gaps between the different establishments? And when AI is used in internal models or in risk assessment risk management models, how can we be sure that that will strengthen banks rather than weakening them or creating new risks? How are you looking at things within the banking institutions? Thank you.”
  Climate policy
• 2026-07-02 “We now turn to the presentation of the draft report and the market integration and supervision package, which follows the 1st exchange of view held in the committee on June 3. This package consists of 3 legislative proposal, a master regulation of the report is Marcus Weber, a master directive of the report is Ero and Aluoma and the settlement finality regulations of the report is Giovanni Roseto. And, I will give the floor to, the reporter of the master regulation, mister Marcus Werber, for 7 minutes.”
  Overall simplification of regulation in the EU
• 2026-07-02 “(10:03:59 - 10:05:30): So good morning, everyone. I would like to welcome to this public hearing in the Econ Committee, Ms. Claudia Bou, Chair of the Supervisory Board established at the ECB in the framework of the SSM. In your opening statement today, you will be addressing bank resilience in an era of geopolitical and AI related risk, to very high topical issue. For instance, in early June, the plenary of the financial stability board stressed in this regard that the conflict in The Middle East and the implication of the usage of new powerful frontier AI models have further complicated the riskless landscape. These 2 risks are also highlighted in the latest ECB financial stability review of May 2026. Last but not least, in a recent interview, you reminded banks to treat cyber resilience as a strategic priority and to allocate adequate resources to address evolving cyber threat. So we are very keen to have the exchange of view today. As always, you will have the floor for an opening statement, and then there will be a q and a session with a member of the Econ Committee. Welcome.”
  Financial regulation
• 2026-06-23 “(14:59:23 – 15:01:55): My understanding is that there is a debate on safe assets in EPP. Strong debate. Our next item is a scrutiny slot on the delegated act amending the new market risk frameworks, the so-called FRTB. I am pleased to welcome the invited expert, Mister Almohove in the serving from the commission, Mister Lasover B, I don't know if this was conversation, from the European Banking Authority, and Florian Weidenhauser from the fantastic single supervisory mechanism. Let me briefly provide some background for today's discussion. On June 4, the commission adopted a delegated act introducing temporary amendments to the renewed market risk frameworks, the so-called fundamental review of the trading book. This act, which amends directly the level 1 text of the capital requirements regulation, is based on article 4, 6 1 a of CRR. According to this article, the commission shall monitor differences in the implementation of the market risk framework in sub countries and where it detects significant differences in such implementation, the commission is empowered to adopt delegated acts. Already in 2024 and in 2025, the commission adopted two delegated acts to postpone the entry into force of the FRTB until 01/01/2027. The act scrutinized today is, therefore, already the third one on the FRTB. It introduces certain temporary and targeted amendments to the CRR, which are to be applied from January of the first 2027 for three years, and we are clearly keen to hear more from the invited expert on the background of this delegated act. In line with the great practices, the following procedure will apply. The expert will have an opening statement of 5 minutes, and then, of course, there will be a Q and A session with the member of the Econ Committee. And I will give first the floor to Almohove Robin Desarwin for the commission.”
  Financial regulation
• 2026-06-23 “(14:38:08 – 14:39:24): So we are back. We now turn to the consideration of the draft report and amendments to the own initiative report on the global role of the euro. The reporter is Rasmussen Razen. This report is particularly timely, with current geopolitical problems such as values, trade, or military crisis putting pressure on the international monetary system, as well as in light of the emergence of new, highly risky financial assets such as stablecoin and highly volatile exchange rate movement. The parliament has an important voice in this debate. On April 14, a public hearing on this topic was held. It was very good, by the way. It has shed an important light on benefits, but also difficulties of strengthening the international status of our currency. With this own initiative report today, we are moving a step further in defining the position on this important issue. And I will now give the floor to the reporter, Rasmussen Dresen, for 6 minutes.”
  Use of stablecoins
• 2026-06-23 “(15:34:28 – 15:35:30): Thank you to, to all of you for this discussion, and the 3 months scrutiny periods of the delegated act will end on 09/03/2020. Thank thank you. Okay. We know okay. We now turn, to the consideration of the draft report and the amending directive regarding the strengthening of the framework for occupational retirement provision, the so called IRP, IRP by Harper Todanian Wozlager. The commission adopted and published its proposal in amending the EU rules governing the activity, the supervision of IRPs of on November 2025. Today's report that we present is draft report on this proposal, and then there will be, of the comment from the shadow reporter. And I will now give the floor to the reporter for 6 minutes. The floor is yours.”
  EU policy on aging workforce and pensions
• 2026-06-23 “Okay. So, colleagues, if you can go back to your seat because we've got a voting session. Not now. At 12. So we need to hurry up a little bit. And we will now move to exchange to the exchange of views on the economic and fiscal implication in Europe of the Middle East crisis. And I would like to warmly welcome our, invited, expert Philippe Plain, member of the executive board of the European Central Bank. Welcome. Martin Verwe, director general of Econ in the European Commission and Johansson Johansson, director of the policy studies research branch at the OECD economics department. Welcome to the 3 of you. The discussion is very timely. Geopolitical tension around the Strait Of Hormuz and volatile energy prices have put a lot of pressure on the European economies with lasting effects despite the fact that recent development suggests a possibility of a progress toward ending the conflict around the Strait Of Hormuz. The consequences are multifold from implication from growth and inflation prospect to public debt and its spillover effects up to serious risk for for businesses and vulnerable household. Several institution have produced inflation and growth forecasts, which even under the most optimistic scenarios revised downward economic prospect at least until 2027. In this context, it is important to discuss about the appropriate response to this crisis and what the role of fiscal and monetary policy should be in that regard. And today, we are looking forward to hearing from your different perspective about the work carried out by the ECB, the commission, and the OSDD to better understand these challenges and their implication, for Europe. So you will have the floor for an opening statement of 7 minutes, and then there will be a Q and A session with the Econ, members. So I will start with Philippe Lane. Welcome to the Econ committee.”
  ECB monetary policy
• 2026-06-23 “So good morning, everyone. If there is no objections, the agenda is adopted. Interpretation facility are available, today in 20 languages. And, I would like to welcome commissioner Dombrovsky, executive vice president, Mizatu, who will be here in a few minutes, to today's economic dialogue on the spring package of the 2026 European semester. So package published published published. On June 3 comes at a time of high geopolitical uncertainty, security risk, and climate related challenges as well as rising energy prices. The commission has provided policy guidance to Member State to deal with the complex challenges facing the EU. This guidance call for coordinated action to improve EU competitiveness, resilience, social cohesion, and strategic autonomy while aiming at maintaining fiscal sustainability. The commission has also assessed the fiscal performance of member states. The implementation of member states 1st medium term fiscal structure plans is ongoing, while 10 member states are currently under excessive deficit procedures. Most importantly, as part of the package, the commission considering the economic impact of the Middle East crisis has proposed expanding the scope of existing national escape clause for defense to energy resilience measures. In this context, we are looking forward to hearing today, what are the key, priorities in the current juncture and, in the EU well. Is the EU well equipped to cope with the multiple, economic and social challenges we are facing? What is the assessment of member states compliance with the EU economic government's framework and the guidance to member state? How would the spring package and its recommendation be linked with the national and regional partnership plans in the context of the next m f f? On this specific issue, the last economic resolution on the European semester called upon the commission to rethink the way in which CSR are developed and follow-up. It also reiterated the need for CSR to be targeted, transparent, and better monitored. I will now give the floor to, my colleague, the chair of the EMPL committee, Li Anderson.”
  European Semester (social dimension)
• 2026-06-23 “Thank you, sir. And just very quickly, thank you, dear chair, for this meeting. Thank you to Executive Vice President and to Commissioner. And, for the ECO member, we will stay in this room to have an exchange of view on the economic and fiscal implication in Europe of the Middle East crisis. Thank you so much.”
  EU fiscal rules and oversight of national budgets
• 2026-06-23 “So today's meeting will be organized as follows. The executive vice president, and welcome, in the, in this joint, Econ and committee. The executive vice president and the commissioner will have 6 minutes for an opening statement. This will be followed by the q and a session with Econ and Ample members with 2 minute for each each question collected in groups of 4 and 8 minutes in total for the commission to answer. And we have some times, of of course, there will be a a catchy eye. And I will now give the floor to commissioner Domrovsky.”
  Activities of EU Ombudsman
• 2026-06-23 “(16:01:38 – 16:01:58): Thank you so much. And the deadline for an amendment is, June 25 at, noon, and the vote in Econ is scheduled for October 15. Thank you so much to all of you, the next Econ, committee meetings will take place on 07/02/1516 in Brazil.”
  Overall simplification of regulation in the EU
• 2026-06-22 “Thank you very much for this intense monetary dialogue. Honestly, this would. We have this monetary dialogue and the vote that we have tomorrow. I think this dialogue has really shown what the cost of inaction could be. It's much dearer than the cost of action. So particularly, for example, when we're talking about the defence question about the issue of inflationary shocks and so on, Not acting as is, can be, can have a great cost. So here it's important that we determine that the cost of action is going to be lower than the cost of inaction. So a huge well done to all of the rapporteurs. And the vote will be very soon with members of the commission of this committee. Thank you president. We will have our next monetary dialogue on the 28th of September and another discussion on the 21st as well of September as well. You are welcome in our next event, which will include lunch.”
  Defence spending
• 2026-06-22 “Now we're going to move on to the monetary dialogue with Christine Lagarde, president of the European Central Bank. I'm delighted to welcome you here today as part of this monetary dialogue. As you know, monetary dialogue is part of the activity report in the annual visit of two members of econ by the ECP, and it's part of the democratic control by the European Parliament of the ECB. These elements are an integral part of the agreement we have with the ECB regarding practices governing interaction between our institutions in the area of central banking activities. Some aspects of monetary policy policies. First of all, the ministerial control of of the ECB's monetary policy will be in discussion today. Then we will talk about the multiplication of supply shocks as part of geopolitical tensions and the monetary policy of the ECB. So those are the first points in global global inflation. Headline inflation is reaching 3.2% in 2026 compared to 3% in in April. This. Or compared to the 11th of June, the Council of the ECB and is increasing its. Its three main rates for the first time in three years. And the main director rate has. And the deposit rate has increased to 2.25%. The multiplication of supply shocks over these last four decades or four years with the Covid crisis, as well as the invasion in Ukraine and also the war in the Middle East, as well as inflation being seen as previously was seen as something that was only affected by demand. But now we can see that it is also affected by supply, which we will be discussing with President Lagarde. We will be having a prep dialogue as we prepared for last week in Strasbourg with some very interesting papers. And these are on the website of the of the Commission's monetary policy website. You will have two minutes to ask questions and we'll have a question and response. Over to you. Thank you chair. Ladies and gentlemen, MEPs. It's a delight to be here before your institution for our dialogue.”
  ECB monetary policy
• 2026-06-22 “Now, I'll take the floor very briefly. It's quite a lot of debate today about the international role of the euro. We can see what the Americans are doing. They've got a comparative advantage because they've got 99% of the market. But there's also another important factor, which is called the safe. Asset. We've mentioned the defense and other aspects. Maybe one means of giving the euro an international role could be to create a safe asset, which is in addition to the stable coins, if they ever arrive at the European level.”
  Use of stablecoins
• 2026-06-22 “So welcome back and I am very pleased to welcome Mr. Pierre Gramegna, Managing director of the European Stability Mechanism, for to this exchange of views. As you may know, the ESM is an intergovernmental organization founded in 20 1220 by a Euro area Member states. Its mission is to safeguard financial stability by supporting euro countries in preventing and overcoming financial crises. This discussion takes place within the framework of the 2024 Memorandum of Cooperation between the European Parliament and the ESM, which aims to strengthen the interinstitutional dialogue and deepen cooperation between our institutions. Europe continues to face significant structural challenges that weight on productivity and long term economic performance. Although the single market remains one of the Europe's greatest achievements, remaining internal barriers still fragment economic activity. Addressing this obstacle is becoming even more urgent as ageing population, climate change, the digital transition transition and rising defence expenditure place growing pressure on public finances and long term sustainability. In this challenging environment, the ESM plays a crucial role safeguarding the financial stability of the euro area by providing financial assistance to member states and helping to prevent potential systemic risks. Today, we are looking forward to hearing from you, dear Pierre, on the recently published ESM 2025 Annual report and on the key activities of your organization. So I will give you the floor for your opening statement that says seven minutes. And then there will be a Q&A session with the members. Welcome in the Econ Committee.”
  EU Single Market harmonisation
• 2026-06-22 “Good afternoon everyone. We will start today's meeting with the adoption of the agenda. And if there is no objection. Objection! The agenda is adopted. Interpretation will be available today in 12 languages. Now point three of the agenda report on ongoing interinstitutional negotiations. Second and last trilogue on mid caps omnibus during the second and final trilogue on the mid caps omnibus held on June 9th, 2026, the negotiation team of the Parliament and Council reached a provisional agreement on the proposal, which extends certain mitigating measures available for SMEs to small mid cap enterprises and introduces further simplification measures in line with the EPI position. Small mid-cap enterprises are defined in principle as companies with fewer than 1000 1000 employees and either up to 200 million in turnover or up to 172 million in total assets. Where the commission proposes 750 employees and 100,000,050 in turnover. The new category will be introduced in various laws ranging from data protection, batteries, stock exchange, listing of companies, etc., with existing SME exemption extending to the new category. The issue of consistency of the small mid-cap company definition across different omnibus files was addressed, addressed through a review clause in the provisional agreement.”
  Overall simplification of regulation in the EU
• 2026-06-22 “Thank you for the discussion and the vote on the opinion in July for July 15th and considering concerning the budgetary amendments. Member will be able to table amendments until July 22nd at 4 p.m. following the availability of the Council position received on July 15th, the vote on the budgetary amendment in econ will take place after the summer break on September 2nd. Thank you to all of you. And see you tomorrow for an important vote and some important discussions here.”
  Size of EU budget
• 2026-06-22 “We now turn to the presentation of the draft opinion and the consideration of amendment on the general budget of the European Union for the financial year 2027. Of standing rapporteur for the file, Mr. EPP. In line with established practices, the budgetary procedure for Icon follows two parallel procedures an icon opinion on the 2027 budget to be submitted to the lead to the lead committee budget, outlining the political messages. Budgetary amendments to amend the figures in the Draft Budget 2027, as amended by by the Council. Similarly to the last exercise, the draft opinion on the 2027 budget will be voted before the summer break. However, the budgetary amendments can only be voted after the summer break after the council position becomes available on July 15th, and I will now invite the rapporteur to present its draft opinion and views on the amendment tabled and afterwards, the shadow rapporteur to take the floor to elaborate on their political priorities. Priorities, please. Mr.. The floor is yours for six minutes.”
  Size of EU budget
• 2026-06-22 “The reconciliation vote is scheduled On July 2nd, in a joint committee meeting, subject to the communication of the letter from. With the agreed text. Second and last trilogue on the Economic Governance Simplification package. On June the 8th, Parliament and Council reached a provisional political agreement on the two. Amending regulation of the Economic Governance Simplification Package dealing with the enhanced and post-programme surveillance of Euro Area Member States on the one hand, and draft budgetary plans and sanctions on the other. The provisional agreement preserves the scrutiny role of the Parliament in the implementation of the regulation, while aligning the provisions with the revamped preventive regulation and in particular with the provision concerning EU priorities and the role of independent fiscal institution. First trilogue on securitisation package. The first trilogue on securitisation package with cover, which covers amendment to capital requirement regulation and securitisation regulation, was held last week, Wednesday 17. It focused on an exchange of views on the main political issues, and there was no agreement yet on specific topics. The next trilogue is scheduled to take place on Tuesday, July 7th.”
  Overall simplification of regulation in the EU
• 2026-06-16 “Thank you very much, Mr.. President. Madam Commissioner. This wake up is tardy. 1.5 points of GDP. That's what we lose every year. For to us, a digital services. In this context, the Americans are ahead. We said that it's often said that the Europeans are not up to the. Don't don't rank there. But that's not true. But we will be able to develop it. It's our role and our responsibility to be up to the task. It's about our talents. We have to protect them to make sure that public orders go towards the digital sphere. And there's it's very dangerous to work with certain digital actors in the U.S. we can think of something which is digital taxation of the digital giants. Thank you. Mr..”
  EU digital & tech sovereignty
• 2026-06-16 “President, madam commissioner. This wake up, is tardy. 1.5 points of GDP. That's what we lose every year for to US digital services. In this context, the Americans are ahead. We said that it's often said that the Europeans are not up to the don't don't rank that, but that's not true. But, we will be able to develop it. It's our role or under responsibility to be up to the task. It's about our talents. We have to protect them to make sure that public orders go towards the digital sphere. And it's very dangerous to work with certain, digital actors in The US. We could think think of something which is at digital taxation of the digital giants.”
  EU digital & tech sovereignty
• 2026-06-15 “(17:52:57 – 17:54:07): Thank you, president, vice president. Independence is not protectionism. Independence. You know, it's just stop being stupid for a moment. Independence is, you know, not just taking it to take control of our destiny instead in some areas for Europe. Energy, you know, right now, this is an issue. You know, the fact that Trump might cut us off in terms of, AI, Mastercard, Viva, financial payments. You know, our traders are telling us it becomes, you know, a form of extortion ultimately. Now I've heard people speak about the single market and, obviously, it goes without saying that I agree. But why don't we have why don't we have an energy champion? Why do we have Airbus? Not just by miracle, it's because we invested into this and because we had a policy on the matter. It was created. It was crafted. So at some point in time, in terms of EU public procurement, we have to start we need to stop giving money to the powers that are actually attacking us economically. Thank you.”
  EU digital & tech sovereignty
• 2025-04-04 “E-001387/2025 Answer given by Executive Vice-President Ribera on behalf of the European Commission Article 2(3) Merger Regulation 1 provides that the Commission shall prohibit any concentration that would significantly impede effective competition in the internal market, in particular as a result of the creation or strengthening of a dominant position. Article 2(1) Merger Regulation contains a list of factors that the Commission takes into account in assessing mergers. In the course of its investigations, the Commission relies on information provided by the merging parties; suppliers, rivals and customers; trade associations; and any other relevant stakeholders. On 24 April 2025, the Commission has accepted requests submitted by Austria and the Netherlands to assess the proposed acquisition of Downtown by Universal Music Group under Article 22 Merger Regulation. This does not prejudge the outcome of the Commission’s full investigation of the effects on the transaction. The Commission will indeed carefully investigate this transaction, in particular engaging with market participants to better understand the music industry and the impact of the transaction on the music industry and cultural sector, and of course on consumers. Following the Court of Justice’s Illumina judgment 2 , there is an ongoing reflection how to address the need to capture certain sub-threshold transactions. Currently, the Commission can review cases if they are referred by competent Member States which are introducing national call-in powers. A call-in power at Commission level would require a review of the Merger Regulation, which would be a lengthy process that requires unanimity of 27 Member States. The Commission considers the current rules are sufficiently agile to address competition concerns in dynamic markets and ecosystems. The Commission’s case practice will be reflected in the ongoing review of the Merger Guidelines, in which a wide-ranging public consultation was launched on 8 May 2025. 1 Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings, OJ L 24, 29.1.2004, p. 1. 2 Judgment of the Court of Justice of 3 September 2024 in joined cases C-611/22 P and C-652/22 P, Illumina v Commission, EU:C:2024:677.”
  EU Competition policy · EU rules on digital competition
• 2024-11-22 “E-002638/2024 Reply The proposal referred to by the Honourable Member (proposal for a Council Directive amending Directive 2006/112/EC as regards VAT rules relating to taxable persons who facilitate distance sales of imported goods and the application of the special scheme for distance sales of goods imported from third territories or third countries and special arrangements for declaration and payment of import VAT) is being discussed within the Council. The Council is not in a position to foresee the outcome or the duration of the discussions. As regards question 1: since the proposal forms part of the Union Customs Code reform package proposed by the European Commission in 2023, its provisions are closely intertwined with the provisions of the other proposed legal acts in that package (for example concerning the concept of ‘deemed importer’ mentioned by the Honourable Member), which are still under discussion within the Council. However, the Council did start discussions on this proposal under the Hungarian Presidency, as reflected in the Ecofin report to the European Council on tax issues (16673/24, see points 38-44). As regards question 2: the information requested by the Honourable Member is not available to the Council. The Honourable Member is invited to put this question to the Commission, as it falls within its sphere of competence.”
  VAT harmonisation · EU competences on taxation
• “Madam president. Commissioner. Colleagues. One year ago, the Draghi report was published. It was a warning about the European economy falling behind the very survival of the European Union as an economic power. Growth is too low. Too little investment, too many barriers within the single market. There was a preference for. Too many directives in favour of regulations, too much complexity, too much fragmentation in the capital markets and a lack of a digital industrial policy. Now we're talking about 600 billion. 300 billion. Is the amount of savings that leaves Europe to finance foreign economies, primarily the USA. So you can compare those two figures. Over the 400 pages of the Draghi report, there were only four paragraphs that have actually been mentioned in the political debate. That's the stuff on simplification and securitisation. So we know that it's not going to be simple to try and get the the private sector moving to, uh, do the necessary investments. Fortunately, the commission started off with a capital markets union, which has now been transformed into a savings and investment union. That's good news because not many people have heard about the Capital Markets Union. Despite the hard working efforts of some members, I'd particularly like to salute the work of Isabel Benjumea, who has, uh, really kept going on capital markets. The commission has now looked again at this work on Capital Market union, and now it's time to look at the details.”
  EU Single Market harmonisation
• “Thank you, dear Johan. With less than one and a half years left to bring the archive to a closure, implementation needs to be accelerated in most, if not all member states by the end of May 2025. Disbursements had reached a 300 and €1,500 billion, 4,049% of the total RF envelope, amounting to 57% of the available grants and 38% of the available loans. Around 31% of all milestones and targets have been assessed by the Commission as fulfilled, and member states have reported an additional 21% as completed in order to maximize results. In the face of delays, the Commission adopted the Communication Next Generation EU The Road to 26 on June 4th. The communication provides guidance to Member States on how to further streamline their national plans, which option to consider when revising them, and how to plan ahead for the submission of the last payment request in 2026. Meanwhile, the European Court of Auditors published its review reports on performance, orientation, accountability and transparency lessons to be learned from the weaknesses of the SRF in May. The report affirms that RF reporting is user friendly, but provides limited information on performance and faces risk in relation to data reliability. Moreover, it concludes that the RF focuses on implementation progress rather than performance, and that the RF compliance framework and rules for the protection of the EU financial interests are not sufficiently robust.”
  Accounting and auditing of EU budget
• “There he is. Okay. So the rapporteur is here. Uh, so we now turn to the consideration of amendments on the financial activities of the European Investment Bank. Annual report 2024. As usual, the Budget Econ committee alternate in preparing an own initiative. Annual report on the EIB and this year. This year it is a concern. The draft report of the rapporteur, Francisco Assis for the PSD was presented and discussed in Econ on April 8th. A total of more than 300 amendments were tabled and then circulated to all members on April 25th, and I will now give the floor to the rapporteur, Mr. Assis, for six minutes.”
  Accounting and auditing of EU budget
• “Okay. Good morning. Good morning everyone. You can please go back to your seat. We will start this. Thank you. This meeting. And if there is no objection, the agenda is adopted. Uh, interpretation is available today in 12 languages. We will move to the adoption of the minutes. Uh, for the minutes of the previous joint meeting of March 20th and June 30th. If there is no objection, they are approved. And now, uh, our next agenda item will deal with the directive on, um, in the omnibus for package for icon. The proposal mainly concerns MiFID, where the Commission proposes to extend certain exemptions currently available to small and medium sized enterprises and also to small mid-cap enterprises. And I give the floor to the chair.”
  Markets in Financial Instruments Directive (MiFID)
• “Thank you and thank you for the very good cooperation. So I would like to welcome Miss Natasha Casnoff, currently executive director of the European Securities and Markets Authority, to the Econ committee meeting. Today's hearing is organized in the context of the extension of his term of office as Executive Director of the Esma, in accordance with article 51 establishing of regulation. Establishing Esma as the Executive Director of official Be five years and may be extending one's current term of office. Started on June 1st, 2021 and will expire on May 13th, 2026. By email of October 2021, 2026. Esma chair informed me that Esma s Board of Supervisors, based on an evaluation report, decided to extend the term of office of the Executive Director for another five years. Members were able to consult that report on a confidential basis and in line with usual practices. The following procedure will be applied for this hearing. After inviting Miss Krasnov to make an opening statement of three minutes. But I think we have the time. So if it's 4 or 5, I think it's fine. Um, I will open the discussion with the member. There will be three minutes, three minutes for the question, for a question of one minute and an answer of two minutes with the possibility of follow up, but same. I mean, I think we have some time, so I'll give you the floor.”
  Discharge of EU institutions and agencies
• “And this is, I think, a very sensitive and political debate, sensitive political debate, and that we need to have the general interest and the interest of the European Union and the European citizens when we are discussing this matter. I also understand from what you said, that regulation is key to protect the euro or financial stability, and to protect us also from what we are seeing right now. And this is, I mean, unfortunate, and I'm the first to be sad about it. The fact that, I mean, we know that the US right now are trying to challenge the euro on the European soil through the stablecoin. So this is really a matter of sovereignty. And I mean, I, I mean, this is something that also we need to have in mind. So at some point we will need to find a solution. We cannot be dependent on Visa and Mastercard. We cannot be under attack by a US stablecoin. We need to find a solution. So I suppose that digital euro will not be the silver bullet solution. It will be a miracle and will be the solution to all of our problems. But at least I think that it can be one solution to one of some problems that we are facing right now. This is why the discussion is very important to to us. So thank you to the both of you. And now we will, uh, move to the presentation of Mr. Michael Weber, associate professor, professor of finance at the Booth School of Business at University of Chicago and member of Leibniz Institute for Financial Research. And you have ten minutes.”
  Digital euro
• “I move now to point four, adoption of minutes and unless there are any objection, the minutes of March 31st, 2025 are adopted. And then we can move now to the point six of our agenda. And I am pleased to welcome Mr. Alfred Camilleri, chair of the European Statistical Governance Advisory Advisory Board. The mission is to provide an independent overview of the implementation of the European Statistics Code of Practice within the European Statistical System with a view to enhancing the professional independence, integrity and accountability of the European statistical System and the quality of European statistics. Every year our Committee holds an exchange of views with the chair of Asgap in order to discuss to discuss his latest annual report. The 2024 Annual Report provides a historical overview of Asgap recommendation and assessment, and addresses the legislative framework governing European statistics in line with the great practices. The following procedure will apply. I will give you the floor, Mr. Kamali, for a statement of five minutes. But I understand that you have a very long presentation, so if there is no objection, maybe it will be seven minutes and then there will be a Q&A session with all members. So I will give you the floor right now and welcome in the ECON Committee.”
  Accounting and auditing of EU budget
• “The the co-legislators agreed to require the Commission to provide by mid September legal text in relation to value for monies, inducements and client categorisation. Provisional agreement was reached on the global principle in relation to influencer financial education and professional requirements. It was also agreed to to start interinstitutional technical meetings. Now we can move to the point six of the agenda with a public hearing conducted in the framework of the appointment procedure for the chair of the Financial Reporting Board. Of the European Financial Reporting Advisory Group, EFG. Let me shortly recall the background of this procedure. It is a private association established in 2001. Its mission includes the development and promotion of the European views in the International Financial Reporting Standards setting process, for which Econ is lead committee. The chair of the Financial Reporting Board of France is responsible for all position taken in Iraq on financial reporting, in particular in the context of the endorsement of IFRS accounting standards from the European perspective. The chair is nominated by the Commission after after having heard the Parliament and Council and appointed by a General Assembly for three years term. This term can be renewed for three additional year. On June 18th, the Commission informs the Parliament by letter about its intention to propose to Mr. Collins for renewal of his term. And I would like to welcome you to this hearing. And the floor is yours for five minutes, and after the opening statement, there will be a Q&A session with the room. Welcome.”
  Markets in Financial Instruments Directive (MiFID)
• “Good morning, everyone. Um. We will start with, uh, the adoption of the agenda. And if there is no objection, the agenda is adopted. I don't have any chairs. Announcements. So we move to the point three of the of the agenda report on ongoing interinstitutional negotiations. Uh, financial financial data access regulation. Uh, the first trilogue on the financial data access regulation was held on April 1st. The commission was tasked and agreed to draft a non-paper on the simplification aspect of the regulation. The Commission committed to deliver the paper within four weeks, and Co-legislator agreed to schedule the following interinstitutional meeting after having received this non-paper and had the opportunity to analyze it. And we can now move to the point four, uh, of this, uh, agenda. And I will, uh, speak in French.”
  EU regulation on financial data access
• “So we have a ten minute break before the next vote and the joint, uh, econ Budget Committee. Thank you.”
  Discharge of EU institutions and agencies
• “Thank you. Chair. Um, so let me give the floor to the Co-rapporteur. Victor Negrescu from Berge and Siegfried Muresan from econ to present their draft report. The Co-rapporteurs will be given five minutes each for their speech, and this will be followed by intervention of maximum three minutes per shadow rapporteurs. And if time allows, there will be a catch. Uh, of course. Uh, so I will ask you to strictly respect the time that was given to you. And I will start with Victor Negrescu for Sandy Berge.”
  EU political integration
• “Thank you I don't know if there is someone from the green Kira no and from the left neither okay thank you to the shadow reporters thank you for your remarks let me remind you that member states have a general approach in place and are willing to implement it this is something they've been working on for over a decade now. Perhaps I could add a little bit more information if we need a political shadows meeting we'll organize that. I took on this file because it was so decided by the coordinators if you do not feel that this is the right way to deal with this then you need to speak to your respective coordinators on statistics. I fully agree with you on bureaucracy and trying to simplify things however it is difficult to gather statistics without asking the relevant sectors who hold that data to pass it on. We'll get in touch with you very soon if you're not happy with the commission proposal I would urge you to speak to your coordinators. We did not really experience such difficult discussions or were we made aware of this during the coordinators meetings there may be some political differences of opinion that happens in any parliament but that was not the case here. It did appear to be very straightforward and that is why it was entrusted to the bureau and now you're saying it's very political very problematic you have difficulties with the commission proposal you need to speak to your coordinator and in the meantime we'll try to make some progress on this file. Thank you for all your input we will try to take your contributions on board the vote in ECON is scheduled for the fifteenth of January thank you suggest.”
  Transparency requirements of EU institutions
• “Thank you. Now it's time to conclude the scrutinization. I don't know if you want to add something, Commissioner. No. Okay. So I would like to thank you for this. Scrutinization. As you know, the EU Taxonomy Regulation adopted in 2020 is a landmark legislation in the field of sustainable finance. Its continued implementation and adoption by stakeholders is key to channel investment in green and sustainable activities. It is therefore crucial for the Parliament to pursue its scrutiny activities in this regard, and I think that part of the European Parliament is a little bit concerned because we have the feeling that maybe we listen to only part of the business, but there is a wide range of the business that like the and enjoys the taxonomy that we are not listening to. And I now pass the floor to my co-chair, Mr. Antonio de Caro, for his closing remarks.”
  Green Taxonomy
• “As you know, the European Parliament is organising its sixth edition of the European Gender Equality Week from the 3rd to the 9th of November. As the chair of the Economic and Monetary Affairs Committee and a committee that has about 80% men, This is something very close to my heart. We really need to deal with this if we want an economy that works well and that is fair. So allow me to give you some figures. On average in the EU, women account for 34% of company boards from listed companies. For those countries that already had binding quotas, the figure can be almost 40%, as opposed to 17% in countries that haven't taken any measures. These figures hide a more worrying reality. Only 15% of decision makers are. In companies that manage more than €50 million are women. When it comes to finance, European startups in 2025 were only 12% of risk capital. As you know, money is the key here. And yet women are excluded from decision making in the economy. That molds the future. And you have to take your place rather than be given it. And we have to take our place, ladies. And that is why, when it comes to the EIB, there is a specific strategy. And this was adopted in 2016. This isn't just rhetoric. It is an action plan with measurable objectives and resources allocated to this. And I'm extremely grateful to the fact that Nadia Calvino, the president of the EIB, has accepted to take part in this Gender Equality Week. Unfortunately, she can't be here with us this afternoon, but she has sent us a video message on the EIB group's strategy. Please let us listen to her.”
  Gender roles, equality and inclusion
• “Okay. Dear colleagues. We move to the point seven of this agenda. Economic dialogue and exchange of views with Pascal Donohoe, president of the Eurogroup. And I will speak in French.”
  EU fiscal rules and oversight of national budgets
• “Welcome. Dominique Labrecque, chair of the Single Resolution Board for this third public hearing in the Econ committee in 2025. Thank you. You've just landed from the United States not very long ago. So thank you very much for coming to be with us. On time and before starting the exchange of views, I would like to congratulate the single resolution board. Wish it happy birthday. It's its 10th anniversary, and you've just celebrated that with a dedicated conference. And as you know, today we have a vote on Cm-dii. We've been waiting for this for a long time. I'm sure the SRB has as well. I would also like to take this opportunity to congratulate all of the rapporteurs and shadows who've been involved in that. And I would also like to thank the council, particularly Johan Drop, who was extremely committed to working on this and allowed us to make progress, and also other teams. Perhaps a special thanks to Ben, Monika and Anna. Thank you all for the excellent work that you've done. We've been able to make progress on C.m.d. And so there's one more pillar of the banking union. It's the banking union that will only be fully functional once we have this third pillar. And once we have the banking union, we're going to save billions as the parliament services have shown. So, without further ado, I'll give the floor to Mr. Lavavex. X, you have the floor for an introductory statement of five minutes, and then afterwards, as always, we will have questions and answers. And welcome to the Parliament. Thank you. I'll speak English, if that's okay, for my introductory remarks.”
  European Banking Union
• “Thank you very much. Thank you to everyone speakers commission and I think we can have a few takeaways because of the very nature of this topic we don't have access to all the information. And let us recall that blockchain existed before crypto and so we're talking not about the technology we're talking about financial assets and a vehicle for transferring them stablecoins. Let us recall that financial sovereignty is vital at the European level which is why we're happy to have to be able to support all of these European platforms since we've seen some Americans have trouble with the US justice system. And I'd like to remind you that if we leave our market open I don't see how we can be competitive with the Americans if they set up barriers. So we'll go with fungibility perhaps are we going to open our markets completely? This is as if I would simply leave the door open to whoever wants to come in. Are we going to leave this in the hands of private players? Maybe we'll better see understand this in the future. Thank you. We'll come back later with the monetary dialogue and with Madam Lagarde will be here.”
  Regulation of crypto
• “Good afternoon everyone. We will start with the adoption of the agenda and if there is no objection, then the agenda is adopted. Uh, interpretation will be, uh, today, uh, available in 12, uh, languages. Uh, we've moved to the 0.3 of the agenda option of minutes. And if there is no objection, then the minutes of April 8th and 25 are adopted. And now 0.4 of the agenda report on ongoing interinstitutional negotiation. And we will start with CMG package the trilogue of June 5th. Uh, the eight trilogue on the SMI package was held on June 5th to Substantive discussions were held on the main political topics, including credit costs, bridge gap, alternative and preventive measures, and SRB governance. As no agreement was reached reached on the substance of this topic, it was agreed that the discussion will continue in the next trilogue. The Commission was tasked with preparing draft compromises on SRB governance and some other issues, and the Council a draft text on irrevocable payment commitments. Certain other issues were referred for further work to the technical level, including including legal test, MRL, transitional arrangements, extraordinary public financial support, and the use of public funds for alternative funding arrangements for DGS. The next trialogue will be held on June 25th. Financial data access Regulation. The second trilogue of the on the financial data access was held on June 17th.”
  Accounting and auditing of EU budget
• “Thank you. Thank you to all of you. And the vote in econ is scheduled for July 15th. ***Interim report in view of the consent procedure on the Agreement establishing an association between the EU and the Principality of Andorra and the Republic of San Marino Okay, we now turn to the consideration of the draft opinion and related amendments to affect interim report in view of the consent procedure on the agreement establishing an association between the EU and the Principality of Andorra and the Republic of San Marino. I now give the floor to the rapporteur, Mr. Fernandez, for six minutes. Oh, Falcone.”
  EU-Switzerland relations
• “Colleagues, you can go back to your seat. We'll proceed to the vote. Uh, I have been informed that the following non members will take part in today's vote. Uh, Mister Francisco Aziz will be replaced by by Andre Rodriguez. Mister Pompey will be replaced by Catherine Garcia. And Miss Maria Burroughs will be replaced by Miss Della Pizza. Thank you. So before we proceed to vote, we will start with a test vote as usual. And the vote is open. So. What is closed and everything is fine. So we will proceed to the vote on the European Semester for Economic Policy Coordination 2026. The rapporteur is Chiara. Peter answered by showing off. And we will start with compromise a with in favour with, against or abstain. Adopted. Compromise B with in favour with, against or abstained. Adopted. Compromise C with in favour with, against or abstain. Adopted compromised. D was in favor with against, who abstained. Adopted. Compromised. E was in favor with. Against. Who abstained. Adopted. Compromised. F with. In favor with. Against. Who abstained. Adopted. Compromised G with. In favor with. Against. Who abstained. Adopted a final vote by roll call. Vote. The vote is open. Its floor.”
  European Semester (social dimension)
• “Thank you. Before I give the floor to the next speaker, I just wanted to add a few words about this subject that keeps coming back in the committee. In the coordinates meeting, I'm sure you know what I'm going to be talking about here. We are a co-legislators, and we've worked very hard on setting up Meka. I'm sure that they'll quickly understand the kind of safeguards that the commission is talking about. On a number of occasions we've had the European Central Bank here with Christine Lagarde saying to us very clearly that she's very worried about the Commission's interpretation. It is a point that we have taken very seriously, and the coordinators in the Econ committee have taken it particularly seriously. It's a recurrent subject in the hearings that we've had with the commission. It's not to annoy you. It is because our concerns are legitimate as co-legislators who work on this subject. The European Central Bank is not a minor footnote in the financial stability of the European Union. And they have, uh, expressed serious concerns. That's why it's good for us to have a chance to discuss these safeguards so that we can evaluate them because we have legal services with us, too. I'll now give the floor to the ESN group. Sieg. But, Frank. Theresa.”
  ECB monetary policy
• “Thank you. I'll now give the floor to myself. I agree with you in some sectors, forty percent of stablecoins are in noncustodial wallets. It's quite complicated to track things down under those conditions. Now I have questions on stablecoins. Many rely on foreign infrastructure. We have synthetic stablecoins. I'd like to hear what you have to say about the difficulties here, Mister Mazzaferro, and what about the markets? There are risks. So Mister Mazzaferro, I'd like to hear more about the cocktail of all these risks, particularly where we see that the US is less cooperative. We know that someone working for Binance was pardoned by President Trump, so we want to know more about this. Someone who is sentenced in the US now has been freed and can conduct business in Europe. Now on using reserves and how that might impact on synthetic stablecoin and what about knock-on effects from the US to Europe? Thank you.”
  Regulation of crypto
• “Thank you and for your information we are waiting for the report, two reports to be published on the AMT and the way European people are using it by the EBA and by SMAR I think by the end of the year so we can have an objective, honest and proper vision of this use. Any catch zi? Yes, Irene Etienagli.”
  Regulation of crypto
• “To avoid an appointment, uh, of the, uh, vice president of the European central banks, Mr. Boris Vucic. It's a buy. It's a secret vote by electronic vote. And the vote is open. The vote is closed and it is approved. The appointment is approved. Congratulations to Mr. Vucic. We now move to the appointment of the chair of the European Banking Authority, Mr. Francois Louis Michaud. Same process. Secret ballot via an electronic process. What is open? What is closed? And it? It is adopted. So congratulations also to Francois Louis Michaud. Thank you for this voting session. The next item of the agenda will be an exchange of views with Nadia Calvino, the president of the European Investment Bank, in 20 minutes. ***Exchange of views with Nadia Calviño, President of the European Investment Bank Group (EIB) and Chair of its Board of Directors”
  Discharge of EU institutions and agencies
• “Thank you, dear Commissioner. And in 20 minutes we will have the public hearing with Dominique Laborie, the chair of the SRB. _____ ***​​Public Hearing with Dominique Laboureix, Chair of the Single Resolution Board (SRB)”
  European Banking Union
• “What's a pleasure to have with us today? The representatives from ecofin and the finance minister from Poland. So. A welcome to you. I'd like to welcome both of you. Thank you for having accepted to join us in the committee. First of all, it's important that you should be with us as present presidency. And we see that in the area of econ. You're very constructive and very dynamic, and you have inherited some very difficult files, difficult files in the Parliament, but also difficult files for the council. So I'd like to thank you for your constructive approach. And it's a very specific moment as well to be euphemistic because the world is changing at an unexpected speed. And I think even last week's speeches have changed the situation substantially. It's very interesting to hear from all on all of these essential subjects. I'll give you the floor for five minutes, and then there will be a question and answer session with the room. Thank you, Mr. Domanski, for five minutes. The floor is yours.”
  EU fiscal rules and oversight of national budgets
• “Thank you so much for being with us today and for answering to all of our questions. Thank you. It's a pleasure for us. Thank you so much. The vote will be in 30 minutes. Okay, so if you have time to have a coffee or discuss inflation. ***Vote on European Semester for economic policy coordination 2026”
  European Semester (social dimension)
• “Yeah, no, I just I'm not sure that you answer to the. **Damian BOESELAGER Question, try to make the broader picture. But just the very precise question was also why or what is your current view on the technical requirements and the solvency margin and why it wasn't.”
  Financial regulation
• “Mr. President, commissioner, colleagues who wants to deprive Europeans of a method of payment which is digital and free. We are not free. Who would prefer that? We give all the stock things in the US rather than in Europe? Who could refuse that? We should be dependent when it comes to payment means from the US. All our methods of payment are from the US. Who would want to abandon our monetary sovereignty? Who would refuse to defend the euro? Our currency today, where we have American stablecoins coming in in our continent, who would prefer U.S. actor close to administration for whom the EU poses a problem? Who wants to destabilize our farmers, our industry, our winemakers? Who? Who, in other words, could refuse this freedom to create the digital euro? Our payment method, which is independent of the Americans above all. It's not the people who defend the defend the interests of the Europe, or the middle class, or sovereignty, or people who defend our democracy and and history will name them in a period of with populism, we'll hear a lot of things about the digital euro, which depriving people of power, where we're doing the creating things with our data, with our data, it's false and it's about politics and civilization. We have to keep our feet on the ground. The Europe has a role to play, to compete with the dollar, to be the currency of one of the strongest economies in the world. Each should be on the right side of history. History will judge them. Thank you very much.”
  Digital euro
• “So good morning everyone. We will start with the adoption of the agenda. And if there is no objection objection. The agenda is adopted. Uh, today we will have interpretation in 12 languages. Uh, I have some announcement to to, to make. Uh, the first one is on Emir. The recent revision of Emir changed the rules for some obligation. Exemption from transaction between entities, uh, belonging to the same council, the consolidation group. The intra group exemption should not apply to transactions made with counterparties established in high risk countries. Trees. These countries are defined in the anti-money laundering package. The new emir, which is applicable since December 24th, 2024, refers to the list provided for in the new um for the list provided for in the new AML regulation. The new regulation enters into application on July 10th, 2027, and this creates a time gap. This draft corrigendum closes the gap by replacing the cross reference to the future AML list with a reference to the AML list on high risk jurisdiction that is currently in force, adopted in accordance with article nine of the AML directive. The draft Corrigendum has been circulated to members in the absence of opposition by at least one political group of members, reaching the low threshold within 24 hours of this announcement. The draft Corrigendum will be deemed approved by Akon and tabled to plenary for announcement, as provided for by rule 251 of the ERP.”
  Anti-money laundering regulation
• “Colleagues, you can go back to your seat. We'll proceed to the vote. Uh, I have been informed that the following non members will take part in today's vote. Uh, Mister Francisco Aziz will be replaced by by Andre Rodriguez. Mister Pompey will be replaced by Catherine Garcia. And Miss Maria Burroughs will be replaced by Miss Della Pizza. Thank you. So before we proceed to vote, we will start with a test vote as usual. And the vote is open. So. What is closed and everything is fine. So we will proceed to the vote on the European Semester for Economic Policy Coordination 2026. The rapporteur is Chiara. Peter answered by showing off. And we will start with compromise a with in favour with, against or abstain. Adopted. Compromise B with in favour with, against or abstained. Adopted. Compromise C with in favour with, against or abstain. Adopted compromised. D was in favor with against, who abstained. Adopted. Compromised. E was in favor with. Against. Who abstained. Adopted. Compromised. F with. In favor with. Against. Who abstained. Adopted. Compromised G with. In favor with. Against. Who abstained. Adopted a final vote by roll call. Vote. The vote is open. Its floor.”
  European Semester (social dimension)
• “So now we will continue. And we will. We need to look at why the Commission and the Bank have decided that they need to make progress with the digital Euro. Well, this is, of course, a instrument which will provide greater freedom to people because digital services are much more extensive, and it is important for European citizens to have the freedom of choice, to be able to pay in cash or in digital transactions. If they want to use a digital euro, they should be able to do that. It will also be important to look at at monitoring data, because too much of European data is held in the US. So this is another question pertaining to freedom and sovereignty. There's also the question of monetary transmission because we need to have a level playing field between commercial banking and retail banking. Innovation is very important. It's an important aspect here. Obviously the digital euro will bring a huge amount of innovation with it. It's also relevant to the whole issue of purchasing power, because it must not take a toll on the customers and our citizens. In the past, the costs surrounding the creation of the euro were quite considerable, and we must not end up in a situation where introducing the digital euro is expensive, but it should be possible to do it without taking an economic toll, either on individuals or any economic sectors. So without further ado, I'm now going to give Mr. Navarro to the floor for five minutes, and then we will have a debate with the shadow rapporteurs. Thank you to them in advance for being here. And we will, of course, also have an opportunity to give Mr. Ricardo from Libe a chance to take the floor. I'd like to welcome you and then we will have an opportunity for the rapporteur to give his reply. So five minutes for you at the moment, Mr. Navarrete.”
  Digital euro
• “Thank you. And I'm sure we will. Well, I will take the floor now. I'll take the floor in French. As you said, I am the rapporteur for those non-financial statistics for commercial real estate. So we very much welcome your work. It will give us a better understanding of the real estate market, which is a structural factor when it comes to our economic and financial stability. Uh, people certainly remember that from the end of the 2000 when we had the big crisis. We don't really have, uh, the statistics we need looking at all these different types of housing, social housing, commercial real estate. So when, uh, we look at that, to really understand the commercial real estate market. I'm not sure why we don't have that as, um, a compulsory indicator. So we have seen in the rental market, the short term rental market particularly has a real impact on, uh, Europeans on their access to housing in terms of prices, uh, for residential purposes. So we have, uh, the tax, um, information from these short term rental platforms. Have you, uh, envisaged collecting data on this subject? Thank you.”
  EU regulation on financial data access
• “Okay, so we now turn to the consideration of amendments on the proposal for a council directive. Business in Europe, framework for income taxation benefit. The draft report of the rapporteur, Evelyn Regner, was presented and discussed in Econ on June 4th. A total of 361 amendments were tabled. Unfortunately, the rapporteur, Evelyn Regner, is not able to be here due to an urgent, urgent commitment. She is being substituted by Fernandez and I invite Mr. Fernandez to present on behalf of the rapporteurs. The main point of discussion in the draft report and afterwards, the shadow rapporteur to take the floor. Mr. Fernandez, the floor is yours for six minutes.”
  EU competences on taxation
• “President. Commissioner. Today's debate isn't so much about taxation, but more about our courage, sovereignty and the ability we have to admit to reality. So what is the reality? We've accepted Trump to wriggle out of the global agreement on taxation in order to assuage him, because we wanted a good deal. Is our trade deal good? Is he calmed down? The answers are no, but we are told that it gives stability and a stable horizon for our businesses. Is this the case? No. The answer is no, because even the day after he, uh, there were all sorts of attacks, and he challenged us when we said we wanted to have a digital tax. So still nothing. He still hasn't calmed down. And now he's calling into question his support for the OECD. So when are we going to understand when are we going to understand that Trump will never stop? And of course, we need to have a digital tax because you as big tech companies don't live in our markets. We have to go further. We have to defend our companies, our rules, and have a digital sovereignty policy, a real policy, not just words, um, words uttered by Ursula von der Leyen. Because all we've heard are words. We have to make sure that we show it through a buying from our own. I think words are lovely, but proof of love is even better. And that's what we're going to ask the European Commission. Proof of love. And, uh, just some advice for Ursula von der Leyen. I think she should read the Draghi report because she betrayed it more than once today.”
  EU-US trade relations
• “Thank you so much, chair. And thank you to all the experts. I will also refer to. Mario Monti. It was very interesting to to hear him. He mentioned Jacques Delors and. Well, there is this famous sentence attributed to Jacques Delors that nobody can fall in love with the single market here in this room. I think we are all in love with single market. We are true believers. Um, but I would like to know in the current context, after the release of the single market strategy, if you believe it's enough to talk about simplification, simplification is not sexy. It can be needed. I don't deny our companies are asking for smoother procedures in order to to be competitive, but are we missing a opportunity with this single market strategy in order to be bold as you asked us, in order to do one step further. And which sectors specifically should be the ones targeted in order to, um, go to the single market of the 21st century? Thank you so much.”
  EU Single Market harmonisation
• “So, dear colleagues, welcome to this joint BOJ econ committee. Nous allons passé maintenant. So we're going to move now to the dialogue on the IRF in accordance with article 26 of our Rules of Procedure establishing the IRF. Today we have with us Executive Vice President and Commissioner Dombrovskis participating for the first time in the Dialogue on recovery and resilience dialogue that since the new commission took office in December 2024 and at the 17th, dialogue since the start of the RF implementation, due to the transitional period between the two Commission Mandate. And we saw a particularly long break between dialogues because of that. Um, the exchange of views which has just taken place clearly demonstrates how seriously the Parliament takes its role of oversight of the IRF. And given the size and innovative nature of this temporary instrument, it's absolutely crucial to ensure transparency accordingly. We expect to return to the bi monthly, um, rhythm of the RDI foreseen in the regulation from now on, and we will soon relaunch the RF working Group, which will provide members with complementary input from the Commission and other stakeholders on specific topics. And we'll see fact finding missions being undertaken in Member States to assess our RF implementation on the ground. Members expect that the RF be implemented in an efficient manner. It achieves the intended results by means of respecting agreed milestones and targets, and if the program fails to deliver, the EU risks losing the trust of its citizens, which is something we cannot afford at this important moment in time. And I will now give the floor to the chair of the Budget Committee.”
  Accounting and auditing of EU budget
• “So it was a very powerful president of the EIB, Nadia Calvino, and I will give the floor to another very powerful woman the commissioner, Maria Luis Albuquerque. And I will invite you to give your feedback and your reaction of what the EIB president just said. Thank you, Madam Chair. Of course, I'm happy to join my voice to Nadia Calvino. It is good that we have these moments, these events where we can highlight the need to continue to work for gender equality. It's not only a moral imperative, it's economically needed and imperative as well. It is a driver for competitiveness, for growth. And I truly look forward to the day where we don't have to talk about it because gender equality is no longer an issue. Sadly, it still is. We do. We are fortunate to live in Europe, where women's rights are recognised and where we are further advanced when compared to other parts of the world. But we should not forget every single day, 365 days a year, that this is still not the reality for a significant part of the world. And that's something to bear in mind. So I will obviously support this very just cause. And I would highlight that in Europe we do have some achievements. There's only women sitting at this table today which is actually also good to point out. Thank you. Thank you dear Commissioner.”
  Gender roles, equality and inclusion
• “Well, thank you. Thank you to the both of you. I just wanted to recall that, um, currency money is a political institution. I mean, I know, I know that as economists, we think of the euro as a mean of payment, as a unit of account, as the state of value. But it is a political institution and it is a pillar of the European Union. So this is why, as legislators, we can from time to time agree or disagree, but we can also, some forbid, some practices that can jeopardise this political institution, which is, I would say, something very precious to us. This is my first point. My second point is digital Euro is about our sovereignty. Digital euro could be also a way to pay things. A baguette in Paris, for instance. Without any costs offline and it will be European. So I think this is for us, something we need also to have to have in mind. And there is another issue that we need to have in mind, which is a balance between private money and public money. And so far, this is I mean, this is very touchy because as you know, money was always a public and private cooperation. But if we are challenged by European or American civil point, whatever it is, then at the end of the day, the balance between private and public money will be very different. And this is something very crucial because because it is like a social contract that we have between the public sector and the private sector. So when we are talking and discussing about the the digital euro, there is also all this that we need to have in, in mind.”
  Digital euro
• “President, vice president draghi and let a report talk about investment Reindustrialisation. And through this compass you are coming up with simplification and even securitisation. But on the ground that is not what companies want. They are talking about energy prices, unfair competition, especially Chinese unfair competition and industrial policy. That's what they are talking about. And that's what they're expecting from you, especially through the clean industrial deal. Of course, we can move forward with simplification, but killing off the CSR triple D and the Csrd isn't going to work if our problems with the car industry. So if we want industry then we need to make sure we have an industrial policy. It's more important than competition policy. It's not a coincidence that we don't have European big tech. It's Because we're thinking about defending the consumer and thinking instead of defending workers and industry, I think we're going to have to move towards an industrial capitalism instead of financial capitalism.”
  EU Competition policy · Chinese clean tech competition: trade barriers and investment caps vs. open market
• “(11:23:28 – 11:23:36): So I will give, any catchy eyes? No? Okay. So I will give the floor back to the commission. **Tilman Lueder (European Commission – DG FISMA): Right. So there are a couple of issues which we need to address here. In relation to these private pensions, it's true that not all investment funds have good returns. There are good investment funds and there are bad investment funds. The returns that you just mentioned, 1 point something percent in a period where the stock markets have performed in double digits is indeed a super bad return, and we would never recommend a product like this. There are however also products which reflect the success of the stock markets and they have double digit returns over longer periods. A lot of pension funds also have annualized returns of 8%, 9% over a decade. So in that sense, there is indeed a challenge to not recommend any product, but to recommend those products which have a decent risk and return profile. This is why we constructed the PEP as a life cycle product because it has high returns in the beginning when you're invested in the markets and then it gradually derisks and goes more into debt and fixed income instruments, which pay dividends, stock which pay dividends or fixed income instruments which pay dividends so that the risk is gradually decreased. But you should not go the initial high returns, because that is how you save money. I think also to in response to the last intervention, there is a difference between a defined benefit, which is a state pension, and a supplementary pension, which is based on the performance of markets. The two are not mutually exclusive. They complement each other. That is why it's called a supplementary pension. Your state pension, which is a defined benefit, so it's x percent of your salary, is gradually decreasing. The defined benefit that is financed through the state pension is in decline. That is why a sort of investment-based supplementary pension is necessary so that you have a decent retirement as you said yourself. So in that sense, I don't see a contradiction between keeping the state pensions, but also supplementing them with a market-based investment tool so that your overall replacement rate is not going to go to 40% of your final salary, but still stays in the 80 or 90% rate. For that, you need to have these supplementary pensions. We're not forcing anybody to do the supplementary pensions, but we do think that you should have fiscal incentives to subscribe to them because the replacement rate by relying on your state pension alone will decline for obvious budgetary reasons. Then there was a more technical question about subaccounts and compulsory subaccounts. I think the subaccounts are essentially a bit of an anomaly in a pan European product, which you should subscribe in every single country in terms of product design, in terms of distribution. The only rationale for the subaccounts is the tax benefits. So if you want to offer this in several countries and if you want to have your contributors also being beneficiaries of various fiscal incentives, you will automatically do the subaccounts anyway because it's part of your business model. So there's no need in our view to make those subaccounts mandatory because if you want to offer this with the fiscal advantages of the different host member states, you will basically have to do subaccounts to accommodate these fiscal differences anyway. Therefore, we are not making them mandatory, but we're not actually saying that you should not have subaccounts. Overall, the message is we're not trying to replace public pensions. I think the rapporteur was extremely clear on this point as well. We are trying to supplement the declining replacement rate that those pension systems will have to have a decent return. We're using all the means at our disposal, including markets, including investment tools because these investment tools are not there for their own sake, but they're there to give you a better retirement income. Thank you very much.”
  Financial regulation
• “Good morning. I'm delighted to welcome here today the president of the ECB, Madame Christine Lagarde. It's a pleasure to see you once again after your presence in the plenary at the beginning of February, uh, when we adopted the annual initiative report of the European Parliament on the activities of the ECB. Uh, and there was a large majority in favour. The monetary dialogues, such as the one we are having today, are essential for the exercise of democratic oversight by the European Parliament. And so, once again, delighted with the cooperation which we've had up until now. And I'm sure that will continue.”
  ECB autonomy on the digital euro
• “Can go back to your seat, but I understand you need to talk. Of course. Okay, so I'm now pleased to welcome Peter Hazekamp, chair of the European Fiscal Board, to this exchange of views with the Econ Committee. Our previous exchange was held in March 2025, ahead your appointment by the Commission. The Efb published its 2025 annual report last October. And basically, you're here to explain us what is in this report. So since we are quite late, I will right away give you the floor for your presentation. And then there will be a Q&A session with all members. And welcome.”
  EU fiscal rules and oversight of national budgets
• “Thank you so much for your presentation. I don't know if there is a member of the committee who wants to take the floor and ask a question. You're you're I don't know, but maybe I can start with something. Uh, I just wanted. You were mentioning holding limits. Most of the time when we are discussing holding limits, it's with the banking institution. And they want this holding limit to be very low. This is basically their main concern. So it was, I think, very new for us to hear someone that say, okay, if you want to be credible, then you need to have a very high, very high holding limits. But it was interesting to, by the way, because I think this is a very different point of view. So for you, uh, could it be because when you think you talk to, you discuss this matter with banking institution. So like if there is no holding limit, then we will have some trouble with our deposit. It will be the end of the world, etc. etc. and we could also create some problem for financial stability in case of a bank run. I mean everyone will have will want to leave this commercial deposit and go to the ECB or something like that. So there is a lot of narrative around the holding limits. So could you say something on this, especially to, uh, maybe to say to the banks that there is no problem at all or maybe there are some problems and it will be more than happy to discuss them. But I would like to have your view on this.”
  European Deposit Insurance Scheme
• “In Strasbourg, Co-legislator reviewed and on paper on the simplification aspect of the regulation that the Commission delivered in May, as requested as the first trilogue in April. Co-legislators also exchanged views on the step ahead. In particular, as concerned the contentious items of scope and role of the gatekeepers, the discussion helped gain mutual understanding on the respective position on other political items such as data, schemes and fibs. The respective position do not appear to be that far apart, which will allow for easier continuation of the negotiation under the Danish presidency. Um, then the first and final trilogue on the key proposal that is shortening the settlement cycle to T plus one was held on June 18th. During the trial, Co-legislator reached a provisional political agreement on the main item in their respective position. An exemption of certain types of security financing transaction from the T plus one requirement, together with the mandate to Esma to monitor and report on the situation, and the Commission to adjust the delegated act on cash penalties if needed. The work at technical level will now continue in order for Co-legislator to vote on the provisional agreement in court and econ, respectively. E nous pouvons passer.”
  Regulation of crypto
• “Today, we are looking forward to hearing from the two commissioners about the latest state of play of the RF implementation and the various developments which occurred since March, notably concerning Member States progress toward achieving milestones and targets in the compliance with transparency transparency requirements, the Commission's assessment of persistent implementation delays and ways to address them. The Commission's assessment of the payment requests made by Member States since the last RDI, and the latest revision of national plans and their implication on the ground. Before we start today's dialogue. Dialogue. Let me mention some housekeeping rules. The Commissioner will be given seven minutes each for their opening statement. This will be followed by the question and answer session with budget and econ members, whereby two members from each group, one from Belgium and one from econ, will be allowed to intervene. Members will have two minutes for questions and two minutes will be taken together. Each commissioner will have four minutes to answer. Thereafter, a session with one minute per question will follow after the round of political group. We understand that Executive Vice President Raffaele Fitto will need to leave at 8 p.m. to participate in plenary debate. This is something I think we can understand and I will give him right now the floor for seven minutes. Dear Vice President, the floor is yours.”
  Conditions to access EU budget
• “Very well then so we have a very long day ahead of us so I propose we start on time. So point six our public hearing on challenges for the competitiveness and integrity of the European Union financial system and we have some guests today madame Stephanie Leroy head of digital assets competence center at Euroclear miss Stephanie Cabosuras chief strategy and global policy offer of foresch of the Societe Generale group and member of the board of directors of the association for the development of digital assets. You were in a previous position and and and you're in finance France yes many of you used to work for there which was mentioned before and I'm mentioning it because maybe some MEPS don't know this but we we debated this topic because we had the director of of AMLA because we had issues about why how's ZZ could be integrated in the US but not in in France. Then we have mister Francesco Matoferro head of the secretary of European systemic risk board welcome mister Eric Monet yeah I believe he's here as well professor at the at the Paris school of economics. The aim of this public hearing is to contribute to the debate of our committee on a report on the digital assets challenges for the competitiveness and integrity of the European Union financial system for which our colleague Johan von Oberfeldt is a rapporteur. He is not here today but he has a lot of work to do right now so I will give the I'll hand over the floor to you this is a very important topic for us because this is about sovereignty it's about monetary sovereignty but also about financial stability and we're at a moment where geopolitical were being attacked more and more at the European level. So just about the choreography of this meeting each speaker will have seven minutes to give a brief introductory statement and then we'll have a Q and A session and so now I hand the floor to miss Louraud for her opening statement so you have seven minutes each I'll be very strict on the time today we have a very long day we even have the so you've been central bank later on today so madam Leroy over to you.”
  Regulation of crypto
• “Thank you so much for being with us today and for answering to all of our questions. Thank you. It's a pleasure for us. Thank you so much. The vote will be in 30 minutes. Okay, so if you have time to have a coffee or discuss inflation. ***Vote on European Semester for economic policy coordination 2026”
  European Semester (social dimension)
• “Okay. Resuming our work in the econ committee, we just discussed financial stability. An important matter in the current context. Now we have the pleasure of welcoming Commissioner Valdis Dombrovskis for this economic dialogue. This is happening two years after the entry into force of the economic governance framework. And it's important to take stock of the implementation of the first budgetary and structural plans of the member state. But today I believe we've got different concerns. We've got a new conflict in the Middle East, which is having an impact on our. Economies, on oil prices and growth and our member States budgetary capacities. We all read the Financial Times this morning. They mentioned crypto being used for the Strait of Hormuz, and we want to hear about stagflation, about revisions of growth predictions and the member states budgetary capacities. So I believe this is a very timely moment to have this economic dialogue. Dear Commissioner, I'll hand over to you in just a second.”
  EU fiscal rules and oversight of national budgets
• “So. Good evening, everyone, and welcome to this joint econ on pole meeting. Should we start this meeting? Thank you. If there is no objection, the agenda is adopted. Interpretation today will be available in 19 languages. And now we can move to the point three of the engine. The Joint Economic Dialogue on the European Semester 2026. And I would like to welcome Executive Vice President and Commissioner Dombrovskis to today's economic dialogue on the package of the 2026 European semester and the package published on November 25th. Kickoffs. The 2026 European Semester cycle. Sending out the European Economic and Social policy priorities for the coming year. This is the second full cycle under the Reformed Economic Governance Framework, which entered into force in April 2020. For the package this year consists of several documents, including a communication on the medium term fiscal structural plans, a proposal for a recommendation for the economic policy of the euro area. The 2026 Alert Mechanism report opinion on the member States, draft budgetary plans, the Post-programme Surveillance Assessment, and the Joint Employment Report. The package also introduces, for the first time, a European macroeconomic report and a recommendation on human capital to increase productivity and boost the EU labour market. Drawing on the autumn 2025 economic forecast, the Commission notes that the EU is demonstrating resilient growth but is also facing structural challenges, including low productivity and democratic demographic pressures. Democratic two. We have also taken note that seven member states are identified as experiencing imbalances or excessive imbalances, and that three member states have not yet submitted a draft budgetary plan. Additionally, nine member states are currently under the executive deficit procedure, with this number bound to increase in the future. In this context, we are looking forward to hearing from the Commission today about the key priority for 2026, the Commission assessment of the implementation of the EU Economic Governance Framework and the guidance to Member States for facing the challenge ahead. And I will now give the floor to my colleague, the chair of the Committee. Thank you.”
  EU fiscal rules and oversight of national budgets
• “I think to the point nine of the agenda. And I would like to welcome Klaus Lebert, Nicoletta Giusto and reinvent to the Econ committee meeting, the first term of office of Klaus Lieber as chair of the Supervisory Committee, and Nicoletta Gusto and Franklin Vente as independent member of the supervisory committee, are coming to the end on November 30th, 2025, by email of April 7th. Seven. The ACMA chair informed me that the Asthma Board of Supervisors decided on April 3rd to extend the term of office of the Supervisory Committee chair and independent members for an additional five year period. At their meeting of January 28th, coordinator decided to invite for a public hearings a member of the Supervisory Committee whose term of office will be extended, so I will invite the three guest speakers to make an opening statement of three minutes each. The statement will be followed by a joint discussion with the members. There will be the usual three minute slot for a question of one minute up, 1.5 minutes for the questions, three minutes for the answer. Sorry. So I will now invite the chair of the Supervisory Committee and director for central counterparties at the European Securities and Markets Authority, to give his opening statement for three minutes. The floor is yours if you are ready. We can wait. Okay.”
  Discharge of EU institutions and agencies